Three months ago, the CEO of Total, Christophe de Margerie, dared utter the phrase heard around the petrodollar world, "There is no reason to pay for oil in dollars," as we noted here, and despite Western-imposed sanctions on Russia, Total is continuing to pursue a natural gas project in Yamal, a joint venture with Russia's Novatek. Today, RT reports the dreadful news that he was killed in a business jet crash at Vnukovo Airport in Moscow after the aircraft hit a snow-plough on take-off. The airport issued a statement confirming "a criminal investigation has been opened into the violation of safety regulations," adding that along with 3 crewmembers on the plane, the snow-plough driver was also killed. Debris from the aircraft was scattered up to 200 meters from the crash site.
Yesterday, Obama made a rare campaign trail appearance in Maryland where he spoke in support of Democratic candidate for governor, Anthony Brown, proceeded with his usual bulletin of reading fabricated economic data off the teleprompter in which he highlighted improvements in US unemployment (if not the 46.5 million people on foodstamps or the 93 million Americans out of the labor force), a rebounding housing market (just as the bouncing dead cat is once again dead), the benefits of health insurance (if no mention of the disaster for small businesses that Obamacare now definitively is) a resurgent manufacturing sector (just don't look at this chart) even if he did point out the unfairness of families having "two folks working", and... a mass audience exodus followed.
The European status quo and EU elites are becoming increasingly concerned by popular calls in Italy for Italy to leave the European Monetary Union and the euro "as soon as possible" and return to the lira.
- Stick to tapering and rates pledge, says Boston Fed chief (FT)
- Turkey to let Iraqi Kurds reinforce Kobani as U.S. drops arms to defenders (Reuters)
- Obama makes rare campaign trail appearance, some leave early (Reuters)
- Japan GPIF to Boost Share Allocation to About 25%, Nikkei Says (BBG)... or three months of POMO
- Japan Stocks Surge on Report GPIF to Boost Local Shares (BBG)
- China Growth Seen Slowing Sharply Over Decade (WSJ)
- Russia, Ukraine Edge Closer to Natural-Gas Deal (WSJ)
- Leveraged Money Spurs Selloff as Record Treasuries Trade (BBG)
- After clashes, Hong Kong students, government stand their ground before talks (Reuters)
In late August, we drew the world's attention to the fact that ISIS had acquired three fighter jets when the Iraqi military ran away. Now, six weeks later, as Reuters reports, having been trained by Iraqi pilots who have joined Islamic State, a group monitoring the war said on Friday, saying it was the first time that the militant group had taken to the air.
We believe that the “Save Our Swiss Gold” campaign has the potential to be a game changer in the gold market - both in terms of the ramifications for the current global monetary system and in terms of higher gold prices.
There has been a lack of coverage of this important story and there is therefore a lack of awareness about the possible implications for the gold market. Thus, in the weeks prior to the referendum on November 30th, we are going to analyse the referendum, the important context to the referendum and the ramifications of a yes or a no vote.
- Obama open to appointing Ebola 'czar', opposes travel ban (Reuters)
- Schools Close as Nurse’s Ebola Infection Ignites Concern (BBG)
- How the World's Top Health Body Allowed Ebola to Spiral Out of Control (BBG)
- European Stocks Rise Amid Growing Pressure for Stimulus (BBG)
- Putin Threatens EU Gas Squeeze Raising Stakes for Ukraine (BBG)
- ECB to Start Asset Purchases Within Days, Says Central Banker Coeuré (WSJ)
- Investors search for signs of end to stock market correction (Reuters)
...and what opportunities does this create?
Remember when Obama said "Putin was isolated", despite the Russian having the explicit support of the BRIC nations, and thus at least half of the world's population? Well, as irony would always have it with this particular US president, the tables have promptly turned, and paradoxically where ISIS failed to "terrorize" Americans into a state of paralyzed daze, the West African virus has succeeded in isolating none other than America, and as a brand new Reuters poll reveals, nearly half of Americans are so concerned about the Ebola outbreak that they are avoiding international air travel!
Because every banana republic democracy deserves its fair, impartial, independent and objective media.
Global stocks plummeted yesterday and again today, on investor concern that U.S. and Chinese inflation data are signalling a global slowdown in economic activity. U.S. retail sales fell in September and producer prices declined for the first time in a year.
If trained professionals (in West Africa and the US) are becoming infected by the deadly Ebola virus, what hope is there for fellow passengers in a tightly-packed metal tube? The World Health Organization expects Ebola cases to top 9000 this week and deaths to exceed 4500 as they shockingly note 427 healthcare workers are now infected. The economic impact of Ebola continues to rise as Liberia slashes its GDP estimate and East African nations discuss strategies to stop the spread from the West. In Europe, Germany is sending aid, the Spanish nurse is stable but Madrid airport activated emergency measures due to a suspected Ebola passenger. US screening restrictions increase as Yale New Haven Hospital is dealing with a patient with Ebole-like symptoms. Politicians begin debating travel bans as Dallas is expected to approve a "state of disaster" today. Contained?
- Dallas County May Declare State of Disaster From Ebola Virus (BBG)
- Markets on edge after worst turmoil in four years (Reuters)
- Central bankers may have no quick fix as markets swoon, economy weakens (Reuters)
- Risk of Deflation Feeds Global Fears (Hilsenrath)
- U.S. health official allowed new Ebola patient on plane with slight fever (Reuters)
- Texas Hospital Fights Allegations About Ebola Protocols (BBG)
- Treasuries Gain as Oil Drops Below $80 While Stocks Slide (BBG)
- Greek Bonds Slump on Bailout Concern as Spain Misses Sale Target (BBG)
- White House shifts into crisis mode on Ebola response (Reuters)
- Obama Confronts Slippery Slope as Islamic State Advances (BBG)
The health-care worker was not identified by public health officials, but family members told Reuters and the Dallas Morning News that her name is Amber Vinson, a nurse at Texas Health Presbyterian Hospital. She was part of a team that had cared for Thomas Eric Duncan, a Liberian man who flew to Texas and was diagnosed with Ebola last month, during his hospitalization in Dallas. Duncan died last week. Nina Pham, a nurse who also cared for Duncan, was diagnosed with Ebola on Sunday.
Banks abused their position of controlling the daily silver fix to reap illegitimate profit from trading, hurting other investors in the silver market who use the benchmark in billions of dollars of transactions, according to the suit.